Tax Returns

The IRS announced yesterday that it examined 6 percent fewer tax returns in 2014 than 2013. In addition, the total number of tax exams for business returns has dropped to the lowest level in eight years. For large...more

The San Francisco Office of the Treasurer and Tax Collector recently issued Gross Receipts Tax regulations, tax return filing instructions and other guidance addressing major changes to how owners of disregarded entities are...more

Recent headlines regarding the submission of fraudulent tax returns underscores the need for vigilance when filing any tax return. Most news accounts indicate that it is the “online” filing that is most at risk. This means...more

By law, the U.S. is not permitted to disclose false return information, even if the release of false return information is authorized by law and treaty. Code Section 7431 imposes liability on the U.S. if it discloses return...more

Taxes Divorce 1955242Tax season is approaching quickly and couples who are going through a divorce need to determine how they are going to file. Certainly, this is a topic that you should discuss with your attorney and your...more

Late last year, Congress approved nearly $11 billion to fund the Internal Revenue Service for fiscal year 2015 – the lowest allotted amount since 2008, according to CNN Money. As a result, the IRS announced delays in...more

Many undertakings operating in the professional indemnity insurance sector traditionally offer policies covering the civil liability of certified chartered accountants and bookkeepers arising from the issue of conformity...more

As tax filing has evolved from the days of paper and ledgers to electronic filing, it was only a matter of time before the tax community would also embrace the use of mobile technology. While tax season is not eagerly...more

When a taxpayer files a federal tax return, the IRS generally has a 3 year statute of limitations period to assess additional tax beyond that reported on the return. If the tax year is audited, the auditor may ask the...more

Voluntary Disclosures take two forms, Offshore and Domestic. There has been a great deal of attention paid to Offshore Voluntary Disclosure Programs, but little attention has been paid to the Domestic program....more

Although most people would love to win “the lottery,” that’s not always the case, such as in Shirley Jackson’s like-titled story or in the more recent Hunger Games series. Likewise, the IRS Audit Lottery is one best avoided...more

On December 19, 2014, the Internal Revenue Service published PLR 201451009, favorably ruling that a for-profit management company could include its captive professional corporation as a member of its consolidated group for...more

A New York Tax Appeals Tribunal Administrative Law Judge (ALJ) recently determined that a federal savings and loan association was not required to include a subsidiary, which was formed as a Connecticut passive investment...more

In This Issue:
- Court Orders Department of Finance to Release Corporate Tax Return Records to City Comptroller
- ALJ Upholds State Tax Department Policy on Personal Liability of LLC Members for Sales...more

Did you receive a letter from the IRS (specifically LTR 5071C) or a letter from the Ohio Department of Taxation asking you to verify your identity or suggesting you may be a victim of identity theft? If so, you’re not alone....more

If divorcing your spouse is not difficult enough, those who are not legally divorced by December 31 must begin thinking at this time of year about tax planning as “married” individuals. The issue of tax filing becomes an...more

I previously posted about the increase in retirement plan contribution limits for 2015. This week the IRS announced the tax brackets, personal exemption, and standard deduction amounts for tax year 2015. To be clear, the new...more

Two recent events demonstrate how prosecutors are increasingly turning to other forms of electronic information to construct their cases. First, Francisco R. Legaspi, now 61, who had been a fugitive for the past 22 years, was...more

We discussed last week the surprise when a highly visible reality star is charged with or convicted of tax evasion or other financial crimes (see last week’s post here about The Situation and referencing Richard Hatch). This...more

As many have heard recently, Michael Sorrentino (of MTV’s “Jersey Shore” fame) and his brother Marc were indicted for tax crimes in New Jersey and made their initial appearance in court last week.
At this point, no one...more

The Franchise Tax Board’s Shande -
This is case that has been more than two decades in the making. It began in the 1990s when inventor Gilbert Hyatt filed a California tax return showing that he relocated from...more

The Tax Court does not often address discovery issues in published decisions and orders. In this case, Popovich v. Indiana Department of State Revenue, Cause No. 49T10-1010-TA-53 (April 24, 2014 and June 4, 2014), the Court...more

Authorities in the U.S. continue to crack down on foreign financial institutions that have allegedly aided U.S. taxpayers in evading their tax obligations. On May 19, 2014, Credit Suisse AG pled guilty to conspiracy to aid...more